Stuart Hughes: We can’t tax and spend our way out

PublishedJune 20, 2012

Every year the two mainstream political parties cross the Midwest prairies and circle their wagons. In this election year, they take no prisoners as each party attempts to paint the other as the weight that drags down our economy.

It’s strange that so much international importance is placed on an office who’s most significant responsibility is approving congressional legislature. This country cannot spend our way to economic stability, nor can we cut taxes and do the same. More importantly, we cannot elect our way into a healthy economy with a new president.

Those who remember the 1950s remember its thriving economy. We’ve had many presidents since then. Have they left the White House better than they found it?

Washington is a broken symbol and it is clanging. The goal now is to take it and turn it into the liberty bell. The goal in casting a vote should not be to elect the right people to make the right choices, but to create a political environment in Washington where even the wrong politicians must make the right choices.

To paraphrase Economics Nobel Laureate Milton Friedman, there are no political angels on their way to save us. It’s up to us to start now.

States must reclaim control. For far too long, states have looked to federal agencies to solve our problems when we should take care of our own. We need, again, to manage our own affairs.

Aren’t education, security and transportation state government concerns? Not only does control rightly belong to us, we can do it better.

It is likely that our legislators live next door, or down the street. They know what we need and are far more accountable for waste than any department in Washington.

But we have been ensnared by a now oppressive federal income tax, and must look to Washington for funds. The Founding Fathers would have never agreed to such a tax. It wasn’t until 1913 that such a tax existed and, today, we send our money to the Capitol so they may decide what we need and send that portion back to us.

This creates a system where presidents and congress have great leverage for pet projects like No Child Left Behind, or the Affordable Healthcare Act. Both have led to disastrous effects on our education and economy. Washington controlling our money not only overrides state’s rights, it creates a system that fosters political waste and abuse.

To fix its politics, a country must start by stabilizing its money. One dollar must always be one dollar and purchase one dollar of groceries. But this is not the case.

We use a fiat currency. Fiat currency is backed by nothing of value and has resulted in a disenfranchisement of the people and a crumbling economy.

Most affected are the elderly who are on a fixed income. As the dollar’s value falls, their income remains unchanged and while their bank statements look the same, they come home with less groceries. It is estimated that under this system, the elderly have lost more than one third in purchasing power since the year 2000. Recently, it was released by the United States Mint that the cost to print a nickel is 11 cents. This is fiat currency.

Last, but saved until then because of its importance, is factionalism in the Congress.

Wishing failure on a president is wishing failure within our states. We cannot wait until November to fix our problems. We must start now. We must remind our congress that while they make longwinded speeches and political statements, the workforce gasps for air.

Don’t be swayed by political rhetoric. Change doesn’t start with the president or congress and it won’t be solved by assessing blame. It starts with recognizing that our country has problems and a president cannot fix them alone. Like the Founders intended, states must take responsibility by holding Washington accountable for their misdeeds and inaction.

By reclaiming control of our money and affairs, we will take back our country from special interests and political extremism. To return America to greatness, we must return to the system that made her great.

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